☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 3
posted Feb 17, 2020 5:39:05 AM

Some of my s-corp income is foreign source - how do I correctly report for 199A deduction?

Working on my 1120-S for my S-corp on TurboTax business/windows.

 

My s-corp is a qualified business and not a SSTB, however a small part of the income is foreign. Is this recorded anywhere on the 199A statements, or how do I declared this? Should it show up on the K-1?

0 1 466
1 Replies
Expert Alumni
Feb 17, 2020 7:13:28 PM

Generally foreign income is not eligible for the QBI deduction unless certain conditions are met. Please review this link, specifically in the paragraph entitled Non-U.S. Source: Categories of Income. This should guide you in determining if your foreign income is considered Effectively Connected income (ECI) for QBI purposes.